President Bola Tinubu has approved ₦32.7 billion for the implementation of the National Social Investment Programme (NSIP). This initiative aims to support vulnerable groups across Nigeria and improve their quality of life.
The announcement came from Nentawe Yilwata, Minister of Humanitarian Affairs and Poverty Alleviation, during the launch of the state action plan for durable solutions for internally displaced persons (IDPs) in Makurdi, Benue State.
Background on the Social Investment Programme
On January 12, 2024, President Tinubu suspended all programmes under the National Social Investment Programmes Agency (NSIPA). This decision was part of an investigation into allegations of mismanagement within the agency.
However, by December 3, 2024, the House of Representatives urged the president to mandate Wale Edun, Minister of Finance, to unfreeze all NSIP accounts within 72 hours. The NSIPA oversees the social investment programme and plays a key role in its implementation.
Key Details About the Social Investment Programme
Minister Yilwata emphasized that this approval aligns with the president’s renewed hope agenda. This agenda prioritizes the welfare of Nigeria’s most vulnerable populations, ensuring they receive much-needed support.
He explained that the funds will be distributed as non-collateral, interest-free loans to vulnerable Nigerians. Women and youth, especially those in cooperative societies, are the primary beneficiaries.
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Encouragement to Join Cooperative Societies
Yilwata encouraged Nigerians to form cooperative societies to access the scheme.
“We will give between ₦300,000 and ₦400,000 as household loans. For example, a cooperative of 20 members can receive ₦6 million,” he said.
He added that the N-Power programme, a key part of the social investment programme, is being restructured.
“The president has directed us to make N-Power more productive. Youths will not only be trained but also linked to market opportunities and private-sector collaborations,” Yilwata said.
To support this, the president has approved the procurement of over 100,000 items to empower more than 100,000 youths nationwide.
Large-Scale Conditional Cash Transfer Initiative
In addition to the loan scheme, Tinubu approved a large-scale conditional cash transfer programme under the social investment programme.
According to Yilwata, this initiative aims to reach 70 million Nigerians. At least 15 million households are expected to benefit from the programme.
“Each household, comprising four to five members, will receive ₦75,000 in total. The payments will be made in three instalments,” Yilwata noted.
Conclusion
The social investment programme represents a major step toward alleviating poverty and empowering vulnerable Nigerians. With the approval of ₦32.7 billion, President Tinubu has reaffirmed his commitment to addressing the needs of the nation’s most disadvantaged citizens.
